Business Process Outsourcing Vietnam (BPO)
Business process outsourcing (BPO) is a method of subcontracting various business-related operations to third-party vendors. In purpose of contracting out specific business processes, BPO usually provides types of service in either internal business functions (back office) such as human resources, logistic, administration, finance and accounting or customer-related functions (front office) such as customer care operations in call centers.
It is noticeable that the revenue of the global BPO industry was reported reaching 24.6 billion U.S. dollars in 2017. Following up the global trend, Vietnam BPO is also believed to be one of the five sectors with greatest potential for growth and investment in the near future, as recorded in PwC’s ‘Spotlight on Vietnam’ report released in 2017.
According to the “Business Process Outsourcing (BPO) Worldwide” 2018 report, the largest share of global outsourcing revenue was generated in Europe, the Middle East and Africa regions. Among the leading countries for offshore business services in 2018, India has performed impressively in terms of its financial attractiveness, skills and availability of manpower as well as the appropriateness of its business environment for BPO. There is no doubt that global BPO in this Industry 4.0 would be pushed forward rapidly thank to the driven of innovation, new technology and high level of competitiveness.